I dunno. I think Viacom's figure is going to be in the billions. Buying a company with massive, massive, obvious legal troubles to the extent YouTube has is just note a wise decision. I guess we'll see what happens down the line, and what Viacom says.
Look at it this way, at 150k a pop (as is the most rcent, I believe figure per infringement), this single video - - can be argued as being $795,146,100,000 dollars in fines against google. And this video isn't even popular. I am sure Viacom will cut a deal, but even still, google is fucked. They are incredibly stupid for willingly walking, and paying for the right to walk, into this minefield.
(Note that I said could be argued probably a ton of different ways. Not stating a definite fact--I am sure Google will be offered some deal along the line, because otherwise, this case will undoubtedly destroy the company. Also note that there is more than one copy of this video up there, so it could feasibly be even worse.)